Huge HDB Resale Wave – July’s Million‑Dollar Milestones
July just proved that Singapore’s HDB market still has plenty of upside. Two more estates have topped the million‑dollar club, and a record‑breaking price broke yesterday’s best‑seller.
So Where Are the New Hotspots?
- Marine Parade: A 47‑year‑old flat sold for $1.01 million – the first slot‑million sale in that estate. But it’s not the only triumph of the month.
- Bukit Batok: What’s fresh? A 1,776 sq ft maisonette on St 25 that fetched a whopping $1.005 million. That’s a price per square foot of $566 – a tidy figure for a non‑mature estate. Bukit Batok joins the list of fourth non‑mature estates out of the box: Hougang (2018), Yishun (Feb 2022), Woodlands (May 2022).
Record‑Breaking High‑End Sale
The most expensive HDB resale ever sold this month was a five‑room loft at SkyTerrace@Dawson, taking home $1.418 million. That tops the previous record of $1.4 million set by the five‑room flat at City Vue @ Henderson.
Flats Sold Over a Million: July Snapshot
The July stats show 33 resale flats hit the $1 million mark. That’s a lift from 31 in June and 30 in May – a steady climb, but not a highway.
- Second‑highest month‑wide tally so far.
- Comparison point: December 2021 still holds the record with 36 million‑plus sales.
- Trend: A few more months down the road, we might break that record.
Small Slice of the Market
Even with the high numbers, these million‑plus transactions account for just 1.4 % of total resale deals in July. So while they’re making headlines, the bulk of sales remain under the million‑dollar threshold.
All in all, July proves that HDB flats can still be a lucrative investment, just with a different flavor than the old straight‑forward chapters. Keep an eye on these hot estates – the next record might be just a block away!
0.7 per cent increase in price, 10.5 per cent increase in transactions
Housing Market Highlights: Prices Soar Like a Hot Air Balloon
The latest data shows that last month’s overall mortgage rates rose by 0.7% – a modest bump that’s barely noticeable unless you’re a property guru. But don’t let the headline fool you: the star of the show is the executive flat, which fared the best with a crisp 1.2% jump. The other champions – three‑room, four‑room, and five‑room gems – followed with 0.6%, 0.6%, and 0.5% increases, respectively.
Year‑on‑Year: A Party in the Property Arena
When you look at the big picture, resale prices are partying hard with an 11.6% rise. Executive flats are the life of the party, soaring a staggering 13.6%. Three‑room units didn’t miss out either, jumping up 11.7%, while four‑room and five‑room flaps were close behind at 11.6% and 11.5%.
Why Executive Flats Are In the Spotlight
- Demand Spike: The big babies of the lot are getting hot news of increased popularity.
- Size Matters: Bigger is better – and buyers seem to agree.
- Premium Pricing: More room, more price.
Soul‑Searching Over Resale Transactions
Last month, sales played a game of 10.5% growth – a cool rise, but June is typically a lull in the business cycle due to the school holidays. Nevertheless, the year‑over‑year volume streaked at a –11.3% slump.
This downturn could hint that buyers are shifting gears, favoring the HDB BTO (Build‑To‑Order) and SBF (Sale‑and‑Buy‑Foreign) initiatives as finish lines get closer.
What This Means for You
- It’s No Big Swing: Prices not too wild; the market’s stabilising.
- Executive Pools: Bigger flat > higher price bump – so shop around.
- May Be a Good Time: Decreasing resale volume could mean less competition.
Disclaimer: All figures are breakup from 99.co – the original source of our property gossip. Happy house hunting!
